Endeavor Group to sell IMG Academy to private equity group BPEA EQT for $1.25 billion
The for-profit Florida boarding school that has groomed some of the top college football and basketball talent in recent years has been sold.
Endeavor Group Holdings, a sports and media conglomerate, which recently purchased WWE, is selling IMG Academy to the private equity group BPEA EQT for a price of $1.25 billion. The Nord Anglia Education company already operates over 80 schools and will partner with BPEA EQT.
Originally started back in 1978 as a tennis training ground, IMG bought the academy in 1987 and expanded, eventually adding golf, basketball and football, along with a number of other sports. The campus today spans more than 400 acres in Bradenton, Florida, with top-level facilities for athletes. Endeavor acquired IMG in 2014, which included IMG Academy.
The on-site academy includes an $11 million training complex, a 5,000-seat arena plus an on-site hotel for parents and scouts. The cafeteria menu is crafted specifically for athletes. Tuition and boarding can cost up to $89,900 annually, according to the Wall Street Journal. That’s $10,000 more expensive than to attend Harvard University.
Past the campus institution, IMG also has online offerings and hosts camps in each sport it offers.
The school has produced college football stars Grant Delpit, Kellen Mond, Evan Neal, Shea Patterson and Nolan Smith. Michael Beasley, Erick Dampier and Anfernee Simons have all gone on to play in the NBA. As of 2022, the academy had placed 30,000 students on college sports rosters.
Endeavor received an offer earlier this month. The conglomerate previously said it wouldn’t make a sale until an offer materialized. Youth sports continue to be a growing market, with the sale proving more businesses want to enter the space.
“Our purpose is to empower student-athletes to win their future, preparing them for college and for life,” IMG Academy president Brent Richard said in a statement. “We are constantly trying to raise the bar in pursuit of that purpose through our on-campus and online experiences. Simultaneously, our staff is passionate about growing the impact we have on the world, reaching more families, and helping them on their journey. BPEA EQT and Nord Anglia are ideal partners to achieve and accelerate those goals, and we are excited for that future.”
What does this mean for future of IMG Academy?
The private equity firm BPEA EQT has already brought on Nord Anglia, showing its plans to expand IMG Academy’s online offerings into more boarding schools. It’s unknown if the sale will make a direct impact on the campus, which has said it is operating as a growing business. A large portion of revenue is still generated by tuition.
Nord Anglia supports over 75,000 students at its 82 schools in 33 countries, which will soon all have to IMG Academy’s sports curriculum.
IMG Academy has become a recruiting hotbed in the last 15 years, specifically in football. In On3’s 2023 Industry top 50 recruits, four came from IMG. It’s the same exact situation in the 2024 recruiting class, with four prospects.
“IMG Academy is in a category of one for its combination of elite athletics and academics, as well as its legacy of developing superstar competitors in the game of life,” Endeavor president and COO Mark Shapiro said. “We’re proud to have been stewards of this institution, driving growth and innovation, as well as expanding its facilities and offerings. IMG Academy is in great hands for its next chapter with BPEA EQT.”